Pulsant has purchased Onyx as it pursues its goal of achieving annual revenue of $220m in the next five years
Industry analysis research from 451 research
There has been a string of M&A in the UK managed hosting and colocation market. In the latest deal, Pulsant has purchased its smaller competitor Onyx Group, an IT infrastructure service provider. To pay for the acquisition – Pulsant’s largest yet – the company will leverage funding from new owner Oak Hill Capital Partners, which bought it in 2014. Pulsant expands its offerings for the UK midmarket, which is moving toward hybrid cloud, and obtains a longer reach in the UK with a datacenter and network infrastructure and sales presence as well as services that extend from the provider to the enterprise datacenter segments. The combined company will have 400 employees, revenue of £75-80m (about $109-$116) in 2016, and more than 4,000 customers.